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Thailand Elite Membership Scheme to Close Shop

Category: Real estate, Posted:07 Mar 2009 | 14:16 pm

Clearly things are changing under the new administration of Prime Minister Abbhisit Vejjajiva. In an announcement by government spokesperson Puttipong Punnakan which was widely covered in the national media, the financially troubled program will be wrapped up. The Thailand Elite Card had been a pet project of former Prime Minister Thaksin Shinawatra which was intended to allow overseas individuals to own a limited amount of land along with long term visas, expediting immigration and discounts at many upper end facilities such as golf courses.

The company had accumulated substantial annual operating expenses since it's inception and it's ultimate parent company is TAT (Tourism Authority of Thailand). A series of proposals have been submitted to the Cabinet and it's currently unclear if compensation will be available to current members or if privatization is a possibility. No official information on the matter is currently available on the present status of the program on the website or though contacts made at the company's office.

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